A jewelry appraisal is defined as a documentation of the current value of jewelry by a professional jeweler. It can be done majorly for three known purposes:
Resell the jewelry item you possess.
Most appraisals are carried out for insurance purposes. A jewelry appraisal is done by filling in a jewelry appraisal form. The form typically includes:
- Name of the owner of jewelry.
- His full address.
- Contact number.
- Any email address.
- Should be documented that whether the jewelry is for business purpose or is it personal
- Type of jewelry should be mentioned.
- Size of the jewelry.
- The color of the jewelry.
- The weight of the jewelry.
- The date the jewelry was bought by you
- At what price did you buy the jewelry?
- Jewelry insured or not?
- Date on which it is appraised.
Importance of appraisal
Jewelry is a very expensive item. A gem no one would ever love to lose. Having your piece of jewel appraised is of great importance for the following reasons:
- Determining the current monetary value.
- Verify the authenticity of the jewelry.
- In case of any fire break or theft, claim for its replacement worth by the insurance company.
Determining the current market value: Knowing the exact market price of your jewelry will certainly help you with selling the piece of jewelry if you intend to.
Verify the authenticity: Authenticity can be verified in terms of weight and quality. If you wish to determine the value of stones attached i.e. are they original or not? The making of the piece of jewelry is also looked upon.
Fire or theft: By the way of any misfortune if theft happens you can easily claim for your lost piece of jewelry to the insurance company. This will allow you to get the amount worth the lost jewelry.
History: People are always keen to know the history of an item especially when it is an expensive one. As they say old is gold. How old is the jewel can also be determined? History can be told only if it’s identifiable.